Synopses & Reviews
An updated investment classic, which outlines the proven approach of Philip Fisher
Originally written by investment legend Philip Fisher (1907-2004) in 1960, this timeless investment classic is reintroduced by Fisher s well-known and well-respected son money manager Ken Fisher in a new Foreword. Paths to Wealth through Common Stocks provides one original concept after another, each designed to greatly improve the results of those who manage their own investments and shows those who rely on professional investment advice how to go about selecting the right adviser for their needs. Filled with in-depth insights and expert advice, Paths to Wealth through Common Stocks summarizes how worthwhile profits can be made through common stock ownership, and reveals why this method can create the greatest profits with the least amount of risk. Many of the ideas found here may depart from conventional investment wisdom of the time, but the impressive results produced by these concepts will quickly remind readers why Fisher s process is legendary.
Philip A. Fisher began his career as a securities analyst in 1928, and founded Fisher & Company, an investment counseling business, in 1931. His other books include investment classics such as Common Stocks and Uncommon Profits (0-471-24609-3), Conservative Investors Sleep Well, and Developing an Investment Philosophy.
"Paths to Wealth Through Common Stocks" summarizes not only the method by which worthwhile profits have been and will continue to be made through common stock ownership, but policies that make by far the greates profits at the least risk. In doing so, the book attempts to do two things. First, it shows how the investor (or his advisor) can determine the occasional company with outstanding management that is likely to provide the vehicle for tremendous increases in market value over a long period of years. Second, it indicates when the shares in such unusual companies may best be bought and the much rarer occasion when a stock that has been well selected in the first place should be sold.
Paths to Wealth through Common Stocks contains one original concept after another, each designed to greatly improve the results of those who self-manage their investmentswhile helping those who rely on professional investment advice select the right advisor for their needs.
Originally written by investment legend Philip A. Fisher in 1960, this timeless classic is now reintroduced by his well-known and respected sonsuccessful money manager Ken Fisherin a new Foreword.
Filled with in-depth insights and expert advice, Paths to Wealth through Common Stocks expands upon the innovative ideas found in Fisher's highly regarded Common Stocks and Uncommon Profitssummarizing how worthwhile profits have been and will continue to be made through common stock ownership, and revealing why his method can increase profits while reducing risk. Many of the ideas found here may depart from conventional investment wisdom, but the impressive results produced by these conceptswhich are still relevant in today's market environmentwill quickly remind you why Philip Fisher is considered one of the greatest investment minds of our time.
About the Author
PHILIP A. FISHER
(1907–2004) began his career as a securities analyst in 1928 and founded Fisher & Company, an investment counseling business, in 1931. He is known as one of the pioneers of modern investment theory. After writing this book, Fisher taught at Stanford as one of only three to ever teach the Graduate School of Business Investment Management course. His other writings include investment classics such as Common Stocks and Uncommon Profits, Conservative Investors Sleep Well, and Developing an Investment Philosophy.
KEN FISHER is best known for his prestigious "Portfolio Strategy" column in Forbes magazine, where his twenty-three-year tenure of high-profile calls makes him the fourth longest-running columnist in Forbes's ninety-year history. Ken is the founder, Chairman, and CEO of Fisher Investments, a multi-product money management firm with over $40 billion under management. His success has ranked him #297 on the 2006 Forbes 400 list of richest Americans. He is a regular in the media and has appeared in most major American finance or business periodicals. Fisher also recently authored the New York Times bestseller The Only Three Questions That Count, also published by Wiley.
Table of Contents
Preface. The Need for Additional Investment Books.
Part I. Adjusting to the Key Influences of the 1960's.
Stocks and Inflation; Institutional Buying; Foreign.
Competition; Increased Population; The Economists.
Go Out, the Psychologists Come In.
Part II. How the Greatest Increases in Stock Values Come About.
Alert Corporate Management; A New Concept.
The Role of Institutional Buying; A Reward
Part III. You and Where Your Investment Business Must Go.
Methods of Investment Evaluation; Five Steps for
Selecting the Right Investment Counselor.
Part IV. Trivia, but not Entirely.
What About Mergers? Voting Rights and Proxy.
Fights; Stocks and Election Prospects.
Part V. Major Growth Industries of the 1960's.
Chemical; Electronics; Drug; Others; The False.
Growth Industries of the Postwar Market; What